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Hyundai Ioniq 5 Is Our Electric Vehicle Best Buy of 2026

By 01/20/2026 6:17pm
  • Head-turning design
  • Tantalizing starting price
  • Abundant tech
  • Fast-charging capability
  • Rugged XRT and high-performance N trims
  • Price yours | See listings near you
Hyundai Ioniq 5 Is Our Electric Vehicle Best Buy of 2026

For a fourth year in a row, the Hyundai Ioniq 5 takes the crown as our Best Buy Award winner in the electric vehicle category. This is an impressive feat in itself, and even more so when surveying the growing field of EVs and the constant arrival of new models. Yet as good as those competitors are, they still can’t best the Hyundai Ioniq 5. Here’s why.

Excellent Value Proposition

In a year when the average new car price has reached the $50,000 mark, Hyundai did something remarkable with the latest Ioniq 5: It cut the price. Slashed is more like it, as in a reduction of up to $9,800 over the prior year. That decrease more than makes up for the $7,500 tax incentive that expired in the summer of 2025, keeping the Ioniq 5 among the most competitive in EV pricing.

The base 2026 Hyundai Ioniq 5 now starts in the mid-30s, and even top-line Limited and XRT trims begin comfortably below the aforementioned $50K average new-car cost. And we haven’t even mentioned the potentially vastly lower fuel costs – electricity is cheaper than gasoline – or the long-term assurance you get from Hyundai’s unbeatable warranty that covers the powertrain for 10 years or 100,000 miles.

New 2026 Hyundai IONIQ 5 Prices

Retail Price
Fair Purchase Price (85716)
SE Standard Range
$36,600
$34,800
SE
$39,100
$36,800
SEL
$41,400
$39,200
Limited
$46,675
$45,300
XRT
$47,875
$46,300
XRT w/Tow Hitch
$48,325
$46,700

Award-Winning Design

Less pragmatic yet still significant is the way the Ioniq 5 looks. Five years after it debuted, we still can’t stop marveling at the design of the Hyundai Ioniq 5. Whether you see it as an SUV or a hotted-up hatchback, it’s hard to argue with the retro-meets-the-future aesthetics of the Ioniq 5. We think it’s wonderfully whimsical, yet perfectly practical. No wonder it has trophies for World Car of the Year and World Car Design of the Year on its mantel.

A rear 3/4 view of the Hyundai Ioniq 5 parked on a cement parking structure on a sunny day.
Image courtesy of Alan Davis

The Ioniq 5’s charming exterior design is just the beginning. Wait until you step inside. Here, Hyundai has performed another feat — creating a cutting-edge, tech-forward cabin that’s inviting, roomy, practical, and easy to use. The Ioniq 5 helped usher in the era of twin-screen panels, combining a digital instrument cluster and an infotainment screen. Yet it also features enough physical buttons and switchgear to keep tasks like changing the audio from feeling like a high-wire act while you’re traveling at highway speeds.

And despite its compact footprint, the 2026 Ioniq 5 boasts generous room for five passengers and ample cargo space — nearly 60 cubic feet with the rear seats folded.

Real-World Range and Performance

The estimated range for the 2026 Hyundai Ioniq 5 spans from 245 miles to 318 miles, depending on the model and drivetrain. Regarding drivetrains, the Ioniq 5 is available with rear-wheel drive (RWD) or all-wheel drive (AWD) and 168-, 225-, or 320-hp outputs. Opting for AWD dual-motor models gets you the most power, but we think even the 225-hp figure is plenty for all manners of driving, from the daily commute to more spirited back-road routes.

For thrill seekers desiring an electric vehicle with a serious jolt, there’s the high-performance Ioniq 5 N. This track-ready model boasts up to 641 horsepower and can warp from zero to 60 mph in under 3.3 seconds. We’ve never had as much fun whipping around an EV, and even appreciate the Ioniq 5 N’s virtual gear changes and the simulated engine burble.

A detailed interior photo of the driver's controls of the Hyundai Ioniq 5.
Image courtesy of Alan Davis

No matter which Ioniq 5 you choose, it has the capability to charge fast — from 10% to 80% capacity in as little as 20 minutes on a DC fast charger. All models now have a North American Charging System (NACS) port and can use Tesla Supercharger stations, and some versions can even power other electrical gear thanks to vehicle-to-load (V2L) functionality.

Tech Powerhouse

The Hyundai Ioniq 5 comes loaded with technology, both the things you would expect — such as the latest active safety features — and those you may not, like a haptic feedback steering wheel and options such as Hyundai’s Blind-Spot View Monitor that displays real-time video when changing lanes, a digital rearview mirror, and even the ability to slip the car in and out of tight parking spots while you stand outside and control it. Isn’t the future fascinating?

We also love the Limited model’s reclining driver’s seat and ottoman-like seat extension to raise your legs. It is ready to use when parked while the car is charging or when you’re getting some respite from the kid’s soccer/ballet/piano/whatever practice.

It feels like we’ve barely scratched the surface of how much the Ioniq 5 offers and how cool it is. For 2026, the Ioniq 5 only improves thanks to a major price reduction that makes this best-of-the-best EV approachable to an even wider set of shoppers.

Photo Tour: 2026 Hyundai Ioniq 5

More 2026 Hyundai Ioniq 5

Our 2026 Best Buy Award Winners